Opening a Bank Account To Purchase Property

When you come to realize that you wish to purchase some property in Spain, you will then be required to open a new bank account there in Spain. You will not only require a Spanish bank account in order to be able to purchase a property in Spain, but you will also need to have debit directly set up to accommodate payments for such things as utilities and bills.

The primary banks of Spain really do well in serving English, and you are usually able to request that your contract be presented to you in the English language, which will thus clearly ensure that you fully comprehend the document that you are placing your signature on. It is also in your best interest to make sure that the branch of the bank that you will be dealing with most of the time has at least one employee on staff that will be able to serve you in English.

There are a variety of different types of accounts that are available to you, both for residents and non residents alike, though accounts for residents allow for more flexibility and offer a larger quantity of benefits. Each bank is able to provide a vast range of accounts, such as the inclusion of those that are for pensioners or small businesses.

Usually the Spanish banks do charge you a fee for servicing your account. It is true that there are some banks that charge higher fees than other banks for all the extra things added to your account for such things as domestic and foreign bank to bank transfers. Some offer accounts with no fees, but they do have certain criteria attached to them. There are some seemingly very feasible accounts available to retired residents, with the provision of free debit and credit cards, cash back on utility bills and free domestic transfers. This is appealing, since bank fees can be quite high at various banks.

In order to be able to open a non resident Spanish bank account, you will be required to have a passport and some money. Additionally, you may be requested to present a copy of your UK bank statement. You must present the address of the address of the property that you intend to purchase, along with proof of your address in the United Kingdom. You may later change your Spanish bank account to a resident account if you become a resident of the nation of Spain. This will provide you with advantages, of course; but do not forget to take into consideration that taxes are taken at source in the United Kingdom.

The banks that you will be dealing with in Spain usually are not in the habit of distributing cheque books. Generally payments are made by debit cards, credit cards and cash. It is the normal practice to charge you an annual fee for your Visa or Marstercard credit card. The typical standard fee ranges between thirty to forty euros.

When you come to realize that you wish to purchase property in Spain, you will then be required to open a new bank account there in Spain. You will not only require a Spanish bank account in order to be able to purchase a property, but you will also need to have debit directly set up to accommodate payments for such things as utilities and bills.

The primary banks of Spain such as the Banco Sabadell and the Santander  do reasonably well in serving English speaking clients, and you are usually able to request that your contract be presented to you in the English language, which will thus clearly ensure that you fully comprehend the document that you are placing your signature on. It is also in your best interest to make sure that the branch of the bank that you will be dealing with most of the time has at least one employee on staff that will be able to serve you in English.

There are a variety of different types of accounts that are available to you, both for residents and non residents alike, though accounts for residents allow for more flexibility and offer a larger quantity of benefits. Each bank is able to provide a vast range of accounts, such as the inclusion of those that are for pensioners or small businesses.